DOCSLIB.ORG

Strength on Your Side

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text

Load more

General Dynamics Annual Report 2003 Strength on Your Side 2003 ANNUAL REPORT 3190 Fairview Park Drive Falls Church, Virginia 22042-4523 (703) 876-3000 www.generaldynamics.com BOARD OF OFFICERS DIRECTORS Nicholas D. Chabraja CORPORATE INFORMATION COMBAT SYSTEMS MARINE SYSTEMS AEROSPACE Chairman and Chief OFFICE SYSTEMS & Executive Officer TECHNOLOGY James S. Crown Nicholas D. Chabraja Gerard J. DeMuro Arthur J. Veitch Michael W. Toner Bryan T. Moss President Chairman and Chief Executive Vice Executive Vice Executive Vice Executive Vice Henry Crown Executive Officer President President President President and Company Information Systems Combat Systems Marine Systems Aerospace David K. Heebner and Technology President Lester Crown Senior Vice President Charles M. Hall John P. Casey Gulfstream Aerospace Chairman Planning and Michael E. Chandler Vice President Vice President Henry Crown Development Vice President President President Larry R. Flynn and Company President Land Systems Electric Boat Vice President Michael J. Mancuso Network Systems President William P. Fricks Senior Vice President Linda P. Hudson John F. “Dugan” Aviation Services Former Chairman and and Chief Financial Mark A. Fried Vice President Shipway Chief Executive Officer Vice President President Vice President Joseph T. Lombardo Officer President Armament and President Vice President Newport News Walter M. Oliver C4 Systems Technical Products Bath Iron Works Chief Operating Shipbuilding Inc. Senior Vice President Officer Human Resources Lawrence E. Johnson H. Michael Malzacher Richard H. Vortmann Gulfstream Aerospace Charles H. Goodman and Administration Vice President Vice President Vice President Vice Chairman President and President President Preston A. Henne Henry Crown David A. Savner Managing Director European Land NASSCO Vice President and Company Senior Vice President General Dynamics Combat Systems Senior Vice President General Counsel and United Kingdom Programs, Engineering Jay L. Johnson Secretary Michael S. Wilson and Test President and Chief John F. Stewart Vice President Gulfstream Aerospace Executive Officer David D. Baier Vice President President Dominion Delivery Vice President President Ordnance and Taxes Advanced Information Tactical Systems George A. Joulwan Systems General, U.S. Army Cordis B. Colburn (Retired) Vice President Government Relations Paul G. Kaminski Chairman and Chief David H. Fogg Executive Officer Vice President Technovation, Inc. Treasurer John M. “Jack” Keane Mark L. Haley General, U.S. Army Vice President (Retired) Deputy General Counsel Lester L. Lyles General, U.S. Air Kenneth A. Hill Force (Retired) Vice President Information Carl E. Mundy, Jr. Technology General, U.S. Marine Phebe N. Novakovic Corps (Retired) Vice President Strategic Planning Kendell Pease Contents Vice President Communications 1 2003 Financial Highlights William O. Schmieder 2 Letter to Shareholders Vice President International 8 Information Systems and Technology John W. Schwartz 10 Combat Systems Vice President 12 Marine Systems Controller 14 Aerospace 16 Financial Information CORPORATE TRANSFER AGENT, REGISTRAR AND AUDITORS ANNUAL MEETING inside back cover Directors and Officers HEADQUARTERS DIVIDEND DISBURSING AGENT inside back cover Corporate Information General Dynamics EquiServe Trust Company, N.A. KPMG LLP The annual meeting of General 3190 Fairview Park Drive Attention: 1600 International Drive Dynamics shareholders will be Cover: Falls Church, Virginia Shareholder Relations McLean, Virginia 22102 held on Wednesday, May 5, 2004, (703) 286-8000 General Dynamics’ business groups are repre- 22042-4523 PO Box 43069 at the Fairview Park Marriott (703) 876-3000 Providence, RI 02940-3069 Hotel, 3111 Fairview Park Drive, sented on the cover by (clockwise, from top) a www.generaldynamics.com (800) 519-3111 SHARES LISTED Falls Church, Virginia, 22042. Gulfstream G550 business-jet aircraft, an artist’s www.equiserve.com A formal notice and proxy will rendering of a Virginia-class submarine, the New York Stock Exchange be mailed before the meeting to U.S. Army’s Stryker infantry carrier vehicle, and Chicago Stock Exchange shareholders entitled to vote. Pacific Stock Exchange a fully-integrated, network-dependent combat Ticker symbol: GD information center. Financial Highlights (Dollars in millions, except per share and employee amounts) 2003 2002 2001 Summary of Operations Net Sales $ 16,617 $ 13,829 $ 12,054 Operating Earnings 1,467 1,582 1,486 Earnings from Continuing Operations, Net of Tax 997 1,051 943 Discontinued Operations 7 (134) – Net Earnings 1,004 917 943 Diluted Earnings Per Share Continuing Operations 5.00 5.18 4.65 Discontinued Operations 0.04 (0.66) – Net Earnings 5.04 4.52 4.65 Net Cash Provided by Operating Activities 1,723 1,125 1,101 Capital Expenditures 224 264 356 Research and Development Company-Sponsored 282 253 203 Customer-Sponsored 229 134 83 Total 511 387 286 At Year End Total Backlog $ 41,076 $ 28,971 $ 26,816 Shareholders' Equity 5,921 5,199 4,528 Total Assets 16,183 11,731 11,069 Outstanding Shares of Common Stock 197,966,192 200,993,102 200,745,547 Number of Employees 67,600 53,900 51,500 Sales Per Employee $ 274,900 $ 261,400 $ 249,800 Forward-Looking Statements This Annual Report contains forward-looking statements that are action; differences in anticipated and actual program performance, based on management’s expectations, estimates, projections and including the ability to perform under long-term fixed-price assumptions. Words such as “expects,” “anticipates,” “plans,” contracts within estimated costs, and performance issues with key “believes,” “scheduled,” “estimates” and variations of these words suppliers and subcontractors; changing customer demand or and similar expressions are intended to identify forward-looking preferences for business aircraft, including the effects of economic statements, which include but are not limited to projections of rev- conditions on the business-aircraft market; reliance on a large fleet enues, earnings, segment performance, cash flows, contract customer for a significant portion of the firm aircraft contracts awards, aircraft production, deliveries and backlog stability. backlog and the majority of the options backlog; and the status or Forward-looking statements are made pursuant to the safe harbor outcome of legal and/or regulatory proceedings. All forward-looking provisions of the Private Securities Litigation Reform Act of 1995, statements speak only as of the date of this report or, in the case of as amended. These statements are not guarantees of future per- any document incorporated by reference, the date of that document. formance and involve certain risks and uncertainties, which are All subsequent written and oral forward-looking statements attrib- difficult to predict. Therefore, actual future results and trends may utable to the company or any person acting on the company’s differ materially from what is forecast in forward-looking state- behalf are qualified by the cautionary statements in this section. ments due to a variety of factors, including, without limitation: The company does not undertake any obligation to update or general U.S. and international political and economic conditions; publicly release any revisions to forward-looking statements to changing priorities in the U.S. government’s defense budget; termi- reflect events, circumstances or changes in expectations after the nation of government contracts due to unilateral government date of this report. General Dynamics 2003 Annual Report 1 Letter to Shareholders Dear Fellow Shareholder: For General Dynamics, 2003 was a year of growth and accomplishment. Revenues grew 20 percent to $16.6 billion. Net income grew 9 percent to $1 billion, despite significantly reduced operating earnings at Gulfstream and sizeable charges incurred in connection with commercial shipbuilding. Cash generated by operating activities reached a record $1.7 billion. Our free cash flow from operations – cash provided by operating activities less capital expenditures – was $1.5 billion, 150 percent of net income. Our strong cash flows enabled us to spend $3 billion on acquisitions, pay out $249 million in cash dividends and repurchase $300 million of General Dynamics’ shares in the open market, while increasing net debt only $2.1 billion. Each of our major business groups passed significant milestones in 2003, some of which I would like to highlight here. INFORMATION SYSTEMS AND TECHNOLOGY Nicholas D. Chabraja The Information Systems and Technology group became the largest source of both revenue Chairman and and operating earnings for your company. Revenue and earnings grew an impressive 35 Chief Executive Officer percent and 23 percent, respectively. We purchased Veridian Corporation to increase our access to the growing intelligence, surveillance and reconnaissance (ISR) markets of the Department of Defense, the national intelligence agencies and the Department of Homeland Security. Two smaller acquisitions, Creative Technology Incorporated and Digital System Resources, further enhanced our role in this area. We also saw strong growth in our command-and-control, communications and computing (C4) businesses that serve U.S. and allied military customers. The growth in the tactical com- munications market in particular reflects the military’s drive to integrate the Soldier, Sailor, Marine and Airman into a network-centric fighting force with real-time situational awareness and the resources to rapidly identify and respond to
Recommended publications
  • 2006-07 Annual Report

    2006-07 Annual Report

    ����������������������������� the chicago council on global affairs 1 The Chicago Council on Global Affairs, founded in 1922 as The Chicago Council on Foreign Relations, is a leading independent, nonpartisan organization committed to influencing the discourse on global issues through contributions to opinion and policy formation, leadership dialogue, and public learning. The Chicago Council brings the world to Chicago by hosting public programs and private events featuring world leaders and experts with diverse views on a wide range of global topics. Through task forces, conferences, studies, and leadership dialogue, the Council brings Chicago’s ideas and opinions to the world. 2 the chicago council on global affairs table of contents the chicago council on global affairs 3 Message from the Chairman The world has undergone On September 1, 2006, The Chicago Council on tremendous change since Foreign Relations became The Chicago Council on The Chicago Council was Global Affairs. The new name respects the Council’s founded in 1922, when heritage – a commitment to nonpartisanship and public nation-states dominated education – while it signals an understanding of the the international stage. changing world and reflects the Council’s increased Balance of power, national efforts to contribute to national and international security, statecraft, and discussions in a global era. diplomacy were foremost Changes at The Chicago Council are evident on on the agenda. many fronts – more and new programs, larger and more Lester Crown Today, our world diverse audiences, a step-up in the pace of task force is shaped increasingly by forces far beyond national reports and conferences, heightened visibility, increased capitals.
  • SIRS High Technology Participants

    SIRS High Technology Participants

    2012 US Mercer SIRS® Benchmark Survey – High Technology Industry Participant List High Technology – Aerospace and Defense Develops, delivers, and supports advanced integrated aerospace and defense systems and products. Aerojet Sacramento L3 Communications – Electrodynamics, Inc. Alliant Techsystems Inc. L3 Communications – ESSCO AIRINC Incorporated L3 Communications – Fuzing & Ordnance Systems B&W Y–12, LLC L3 Communications – Integrated Systems B/E Aerospace L3 Communications – Link Simulation & Training BAE Systems, Inc. L3 Communications – Linkabit Ball Corporation – Aerospace & Technologies Corp. L3 Communications – Ocean Systems Boeing Defense, Space and Security L3 Communications – PHOTONICS Cobham North America L3 Communications – Power Paragon, Inc. Corsair Engineering L3 Communications – Space and Navigation DRS Technologies L3 Communications – Telemetry West Eclipse Aerospace L3 Communications – Unmanned Systems Federal Aviation Administration L3 Communications – Westwood Corporation General Dynamics Corporation L3 Communications Corporation GKN Aerospace North America Division L3 Communications, Wescam Sonoma Operations Goodrich ISR Systems Lockheed Martin Honeywell Lockheed Martin – Space Systems INSITU, INC. MDA Information Systems, Inc L3 Communications – Aerospace Electronics Moog Inc. L3 Communications – Applied Signal & National Security Technologies, LLC Image Technology Nordam Group, The L3 Communications – Applied Technologies Northrop Grumman Corporation Pulse Sciences Northrop Grumman Corporation – Enterprise Shared
  • INTRODUCING the ALL-NEW GULFSTREAM G500 and G600 When You Start with a Clean Sheet, the Opportunities Are Boundless

    INTRODUCING the ALL-NEW GULFSTREAM G500 and G600 When You Start with a Clean Sheet, the Opportunities Are Boundless

    THE MAGAZINE FOR GULFSTREAM EMPLOYEES INTRODUCING THE ALL-NEW GULFSTREAM G500 AND G600 When you start with a clean sheet, the opportunities are boundless. Gulfstream and its employees celebrate the next generation of aircraft – the G500 and G600. SPECIAL ISSUE | JANUARY 2015 the president’s JANUARY 2015 SPECIAL ISSUE corner Waypoint is published for employees of Gulfstream Aerospace Corporation. The magazine’s mission is to LARRY FLYNN inform and entertain; to bring together people from our many sites, teams, disciplines and interests; and to instill a sense of company pride. It also seeks to provide thoughtful, in-depth articles on GULFSTREAM IS our company’s people, programs and initiatives PHOTO: KATHY ALMAND in an effort to strengthen our common bond BOUNDLESS and adhere to our corporate vision. Since Grumman introduced the Gulfstream I VICE PRESIDENT TECHNICAL MARKETING & in 1958, Gulfstream has grown its reputation COMMUNICATIONS Steve Cass through a history of industry firsts, record-set- EDITORIAL DIRECTOR ting aircraft, technological innovations, global Philip Hanyok service and support initiatives and an expand- EDITOR Laura Wentz ing worldwide customer base. Oct. 14, 2014, PHOTOGRAPHY EDITORS was yet another extraordinary day in our sto- Matthew Stephan Beth Getman ried history. PHOTOGRAPHY On that day, we ushered in a new era for Kathy Almand Paul Bowen Gulfstream by introducing the all-new G500 and G600, helping us further our vision John Dibbs Lori Dynan to create and deliver the world’s finest aviation experience. Stephanie Lipscomb These clean-sheet aircraft reflect an optimal combination of form, function and Josh Triplett efficiency, with wide cabins, advanced-technology flight decks and high-speed perfor- GRAPHIC DESIGN Chic Graphic Design mance.
  • (Exact Name of Registrant As Specified in Its Charter) Delaware 13

    (Exact Name of Registrant As Specified in Its Charter) Delaware 13

    U NITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) [X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2018 OR [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to _______ Commission File Number 1-3671 GENERAL DYNAMICS CORPORATION (Exact name of registrant as specified in its charter) Delaware 13-1673581 State or other jurisdiction of incorporation or organization IRS Employer Identification No. 2941 Fairview Park Drive, Suite 100 Falls Church, Virginia 22042-4513 Address of principal executive offices Zip code Registrant’s telephone number, including area code: (703) 876-3000 Securities registered pursuant to Section 12(b) of the Act: Title of each class Name of exchange on which registered Common stock, par value $1 per share New York Stock Exchange Securities registered pursuant to Section 12(g) of the Act: None Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ü No ___ Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ___ No ü Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
  • Silver Spoon Oligarchs

    Silver Spoon Oligarchs

    CO-AUTHORS Chuck Collins is director of the Program on Inequality and the Common Good at the Institute for Policy Studies where he coedits Inequality.org. He is author of the new book The Wealth Hoarders: How Billionaires Pay Millions to Hide Trillions. Joe Fitzgerald is a research associate with the IPS Program on Inequality and the Common Good. Helen Flannery is director of research for the IPS Charity Reform Initiative, a project of the IPS Program on Inequality. She is co-author of a number of IPS reports including Gilded Giving 2020. Omar Ocampo is researcher at the IPS Program on Inequality and the Common Good and co-author of a number of reports, including Billionaire Bonanza 2020. Sophia Paslaski is a researcher and communications specialist at the IPS Program on Inequality and the Common Good. Kalena Thomhave is a researcher with the Program on Inequality and the Common Good at the Institute for Policy Studies. ACKNOWLEDGEMENTS The authors wish to thank Sarah Gertler for her cover design and graphics. Thanks to the Forbes Wealth Research Team, led by Kerry Dolan, for their foundational wealth research. And thanks to Jason Cluggish for using his programming skills to help us retrieve private foundation tax data from the IRS. THE INSTITUTE FOR POLICY STUDIES The Institute for Policy Studies (www.ips-dc.org) is a multi-issue research center that has been conducting path-breaking research on inequality for more than 20 years. The IPS Program on Inequality and the Common Good was founded in 2006 to draw attention to the growing dangers of concentrated wealth and power, and to advocate policies and practices to reverse extreme inequalities in income, wealth, and opportunity.
  • Read the Report Silver Spoon Oligarchs

    Read the Report Silver Spoon Oligarchs

    CO-AUTHORS Chuck Collins is director of the Program on Inequality and the Common Good at the Institute for Policy Studies where he coedits Inequality.org. He is author of the new book The Wealth Hoarders: How Billionaires Pay Millions to Hide Trillions. Joe Fitzgerald is a research associate with the IPS Program on Inequality and the Common Good. Helen Flannery is director of research for the IPS Charity Reform Initiative, a project of the IPS Program on Inequality. She is co-author of a number of IPS reports including Gilded Giving 2020. Omar Ocampo is researcher at the IPS Program on Inequality and the Common Good and co-author of a number of reports, including Billionaire Bonanza 2020. Sophia Paslaski is a researcher and communications specialist at the IPS Program on Inequality and the Common Good. Kalena Thomhave is a researcher with the Program on Inequality and the Common Good at the Institute for Policy Studies. ACKNOWLEDGEMENTS The authors wish to thank Sarah Gertler for her cover design and graphics. Thanks to the Forbes Wealth Research Team, led by Kerry Dolan, for their foundational wealth research. And thanks to Jason Cluggish for using his programming skills to help us retrieve private foundation tax data from the IRS. THE INSTITUTE FOR POLICY STUDIES The Institute for Policy Studies (www.ips-dc.org) is a multi-issue research center that has been conducting path-breaking research on inequality for more than 20 years. The IPS Program on Inequality and the Common Good was founded in 2006 to draw attention to the growing dangers of concentrated wealth and power, and to advocate policies and practices to reverse extreme inequalities in income, wealth, and opportunity.
  • View Annual Report

    View Annual Report

    ANNUAL REPORT 2017 Your management team continues to demonstrate the value of focusing on operations, managing the business for cash and earnings, and growing return on your capital. We are confident in our outlook for the future, built on a large defense backlog and strong demand for our Aerospace products and services. Annual Report 2017 In 2017, General Dynamics delivered strong operating results, demonstrating the power of our business portfolio. DEAR FELLOW SHAREHOLDER General Dynamics demonstrated strong operating and Your management team continues on a course of prudent financial performance in 2017. Diluted earnings per share capital allocation to enhance shareholder returns. The (EPS) from continuing operations rose 10.6 percent to $9.56, company’s quarterly dividend increased for the 20th driven by a 130 basis point expansion in operating margin consecutive year in 2017 to $0.84. In March 2018, the to 13.5 percent. Revenue rose 1.3 percent to $31 billion. Net Board of Directors raised the dividend by 10.7 percent cash from operating activities was $3.9 billion and free to a quarterly rate of $0.93. During the year, we also cash flow from operations reached nearly $3.5 billion. repurchased 7.8 million shares of common stock for $1.5 Total backlog advanced by nearly $1 billion to $63.2 billion. billion, reducing shares outstanding by about 2 percent. In addition, return on sales of 9.4 percent was up 60 basis To enhance innovation and bring new products to market, points from 2016, return on equity of 26.6 percent was 100 2017 company-sponsored research and development rose to basis points higher and return on invested capital of 16.8 $521 million from $418 million, the fourth consecutive annual percent was up 50 basis points.
  • 2004 Gala Program.Pdf

    2004 Gala Program.Pdf

    The Civic Federation 2004 Awards Luncheon Wednesday, March 24 Westin River North, Chicago A message from Kevork M. Derderian Chairman of the Board of Directors It is my great pleasure to welcome you to The Civic Federation’s 2004 Annual Awards Luncheon. This year’s award recipients are shining examples of how business leaders who are committed to civic involvement can improve the quality of life for everyone in the Chicago metropolitan area. Lester Crown personifies the qualities of recipients of the Lyman J. Gage Award for Outstanding Civic Contribution by an Individual. He is known in equal measure as one of the region’s foremost businessmen and as one of the most prolific contributors to the region’s philanthropic and civic endeavors. His role as chairman of Henry Crown and Company usually takes second place in the public mind to his dedication to making Chicago a better place for all of us. This year’s Addams-Palmer Award goes to Exelon Corporation. Exelon’s dedication to Chicago is evident from its efforts to encourage the development of self-sustaining and environmentally friendly communities and its many partnerships with the City of Chicago’s parks and schools. Today’s luncheon would not have been possible if not for the willingness of the event’s Co- Chairmen to help organize it. Therefore, on behalf of the Federation’s members and Board of Directors, I would like to extend our warmest thanks to Norman R. Bobins, W. James Farrell, and Andrew J. McKenna. All three of these outstanding businessmen have given a great deal of their time and attention to assisting The Civic Federation and so many other organizations.
  • May 2019 Vol

    May 2019 Vol

    BUSINESS & COMMERCIAL AVIATION TRACING THE SINGLE-ENGINE TURBOPROP UNRELIABLE AIRSPEED READI MAY 2019 $10.00 www.bcadigital.com ALSO IN THIS ISSUE Unreliable Airspeed Readings Business & Commercial Aviation Operating Into Moscow Staying on Glidepath Incapable of Flight NGS STAYING ON GLIDEPATH MAY 2019 VOL. 115 NO. 5 Tracing the Single- Engine Turboprop Novelty aircraft become business assets Digital Edition Copyright Notice The content contained in this digital edition (“Digital Material”), as well as its selection and arrangement, is owned by Informa. and its affiliated companies, licensors, and suppliers, and is protected by their respective copyright, trademark and other proprietary rights. Upon payment of the subscription price, if applicable, you are hereby authorized to view, download, copy, and print Digital Material solely for your own personal, non-commercial use, provided that by doing any of the foregoing, you acknowledge that (i) you do not and will not acquire any ownership rights of any kind in the Digital Material or any portion thereof, (ii) you must preserve all copyright and other proprietary notices included in any downloaded Digital Material, and (iii) you must comply in all respects with the use restrictions set forth below and in the Informa Privacy Policy and the Informa Terms of Use (the “Use Restrictions”), each of which is hereby incorporated by reference. Any use not in accordance with, and any failure to comply fully with, the Use Restrictions is expressly prohibited by law, and may result in severe civil and criminal penalties. Violators will be prosecuted to the maximum possible extent. You may not modify, publish, license, transmit (including by way of email, facsimile or other electronic means), transfer, sell, reproduce (including by copying or posting on any network computer), create derivative works from, display, store, or in any way exploit, broadcast, disseminate or distribute, in any format or media of any kind, any of the Digital Material, in whole or in part, without the express prior written consent of Informa.
  • Bizavindia 4 2019.Pdf

    Bizavindia 4 2019.Pdf

    A SUPPLEMENT TO Sp’s AVIATION 12/2019 India VolumeBizAv 5 • issue 4 WWW.SPS-AVIATION.COM/BIZAVINDIASUPPLEMENT P 4 INTERVIEW: R.K. BALI, MANAGING DIRECTOR, BAOA P 9 GULFSTREAM CASTS A SPELL WITH THE LAUNCH OF G700 P 13 A TALE OF PAGE 7 EMBRAER PRAETOR: DIFFERENT BY DESIGN. DISRUPTIVE BY CHOICE. ACCOMPLISHMENTS P 17 SHOW REPORT: QATAR AIRWAYS - ON CONSISTENT SPREE NBAA 2019 TOWARDS INTEGRATING BUSINESS AVIATION + MORE... PRAETOR 500: THE BEST MIDSIZE JET EVER. The Praetor 500 surpassed its design goals in range, takeoff distance and high-speed cruise. The disruptive Praetor 500 leads the way in performance, comfort and technology. As the farthest- and fastest-flying midsize jet with 3,340 nm range and a high-speed cruise of 466 ktas, the Praetor 500 makes nonstop, corner- to-corner flights across North America. Miami to Seattle. San Francisco to Gander. Los Angeles to New York. It also connects the U.S. west coast to Europe and South America with just one stop. The jet takes you right where you need to be with its enviable access to challenging airports. The lowest cabin altitude in the class assures that you arrive energized. The ultra-quiet cabin with home-like connectivity is perfect for work, relaxing or conversation in a normal tone of voice. Plus, Embraer is the only business jet manufacturer to offer full fly-by-wire in the midsize segment, with turbulence reduction capability. The precise union of style, comfort, innovation and technology create a sophisticated, powerful travel experience. Lead the way now in a Praetor 500.
  • GENERAL DYNAMICS Strength on Your Side

    GENERAL DYNAMICS Strength on Your Side

    GENERAL DYNAMICS Strength on Your Side Annual Report 2004 Contents 2004 Financial Highlights 1 Letter to Shareholders 2 Information Systems and 8 Technology Combat Systems 10 Marine Systems 12 Aerospace 14 Financial Information 16 Directors and Officers inside back cover Corporate Information inside back cover On the cover: Between 1955 and 1965, General Dynamics commissioned Swiss-born artist Erik Nitsche (1908-98) to produce four series of posters to promote “the spirit of dis- covery” that inspired the company’s diverse business interests. The Nitsche posters are considered prime representations of the “Atomic Style” of industrial design. The 2004 Annual Report cover design mirrors the arrangement of a poster display at General Dynamics headquarters. Financial Highlights (Dollars in millions, except per share and employee amounts) 2004 2003 2002 Summary of Operations Net Sales $ 19,178 16,369 13,680 Operating Earnings 1,941 1,445 1,567 Earnings from Continuing Operations, Net of Tax 1,203 982 1,040 Discontinued Operations 24 22 (123) Net Earnings 1,227 1,004 917 Diluted Earnings Per Share Continuing Operations 5.97 4.93 5.13 Discontinued Operations 0.12 0.11 (0.61) Net Earnings 6.09 5.04 4.52 Net Cash Provided by Operating Activities 1,802 1,723 1,122 Capital Expenditures 266 222 262 Research and Development Company Sponsored 329 279 251 Customer Sponsored 194 229 134 Total 523 508 385 At Year End Total Backlog $ 42,074 40,645 28,745 Shareholders' Equity 7,189 5,921 5,199 Total Assets 17,544 16,183 11,731 Outstanding Shares of Common Stock 201,033,153 197,966,192 200,993,102 Number of Employees 70,200 65,600 53,400 Sales Per Employee $ 282,800 275,700 259,200 This Annual Report contains forward-looking statements that are contracts due to unilateral government action; differences in anticipat- based on management’s expectations, estimates, projections and ed and actual program performance, including the ability to perform assumptions.
  • Gulfstream Aerospace Expands Service Center in Appleton, Wisconsin

    Gulfstream Aerospace Expands Service Center in Appleton, Wisconsin

    9/12/2019 Gulfstream Aerospace Expands Service Center in Appleton, Wisconsin Gulfstream Aerospace Expands Service Center in Appleton, Wisconsin Nearly 190,000-Square-Foot Facility a World-Class Workplace and Customer Resource NEWS PROVIDED BY Gulfstream Aerospace Corp. Aug 23, 2019, 15:21 ET SAVANNAH, Ga., Aug. 23, 2019 /PRNewswire/ -- Gulfstream Aerospace Corp. today announced it has ofcially expanded its maintenance, repair and overhaul (MRO) operations at Wisconsin's Appleton International Airport with the opening of a newly built aircraft maintenance facility. The facility has been operational since Aug. 10. Gulfstream's expanded facility in Appleton, Wisconsin. The $40 million, 190,000 square-foot building can accommodate 12 Gulfstream G650ER aircraft and employs more than 100 people. (Gulfstream photo) The nearly 190,000 square-foot/17,652-square-meter building, northeast of the airport terminal, was constructed with an investment of approximately $40 million. The expansion to the Appleton service center includes 101,853 sq ft/9,462 sq m of hangar space, which will accommodate 12 Gulfstream G650ER or G650 aircraft. In addition to ofces, back shops and https://www.prnewswire.com/news-releases/gulfstream-aerospace-expands-service-center-in-appleton-wisconsin-300906486.html 1/3 g9/12/2019eneral support space, the expansGulfstreamion ad Aerospaceds a n Expandsew sa Serviceles aCenternd ind Appleton,esign Wcisconsinenter and increased customer access to Gulfstream's design portfolio. The project, announced in February 2018, has resulted in nearly 100 new jobs at Gulfstream Appleton, with the potential for more in the next few years. "This is a very exciting day for Appleton and the entire Fox Valley," said Derek Zimmerman, president, Gulfstream Customer Support.